It’s the bank holiday weekend and to celebrate, here is a list of what the Starcounters have been talking about in the news.
Artificial intelligence diversity crises
According to the AI Now Institute, the industry is “too white” and “too male”. Reports found that 80% of AI professors were men, just 15% of AI research staff at Facebook and 10% at Google are women. This is a problem in the AI industry where potentially biased technology can disproportionately affect historically marginalised groups.
According to Starcount Chief Product Officer Rowena Humby, this issue stems back to school. “The more we can profile and celebrate women and minorities in the industry – and the academic background they came from, the more likely we will fix this self-perpetuating issue.”
Are age demographic terms like ‘Millennial’ useful for marketers?
According to Marketing Week, studies show that just 7% of marketers believe they are effective means of segmentation with senior marketers describing the labels as “overly broad” and “stereotyping”.
It seems that marketers are looking for more specific behavioural differences to distinguish group characteristics.
How automotive is navigating a transforming landscape?
The automotive industry is changing so drastically that some have gone as for as to describe the disruption as “complete dislocation”. Brand positioning is no longer a ‘static endeavour’ and being seen as innovative is crucial for success.
Automotive consumers are moving away from emotional desires towards rational needs. In this way, the customer is put at the centre of decisions, not the technology.
Our Chief Data Scientist Clive Humby has further light to shed on consumer trends in the automotive industry here is a link to our white paper, please have a look through.
Tesla problems continue with staff layoffs and dealership closures, but what does this suggest about the future of the automotive industry?
Tesla announced a step towards online-only car sales before back-tracking to explain that it is only a longer-term vision. Whilst it appeared a drastic step it’s simply a move towards taking car buying to a more customer-centric activity.
Out of town, independently run dealerships often appear as a disconnect between the customer and the brand. In today’s digital and customer first world, car manufacturers need to engage with customers differently and offer new customer propositions, such as Tesla have proposed, to win in the long run.
Feel free to check out our automotive blog post which will help to explain the technological developments within the industry and opportunities for dealerships.